Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Craig Jones

Hopes Pinned On Walt Disney, After Netflix Streams Hugely Disappointing Subscriber Numbers

Walt Disney Co’s (NYSE:DIS) earnings call, scheduled for after the closing bell on Wednesday, is in focus. Investors are pinning their hopes on Disney, after Netflix Inc (NASDAQ:NFLX) reported its first subscriber loss in over a decade in April.

On CNBC's "Options Action," Mike Khouw of Optimize Advisors said that the stock is trading about 1.4 times its average daily volume, with calls outpacing puts.

“Right now the options market is implying a move of more than 9% by the end of the week, after they report,” he added.

Also Read: I Am Iron Man: Disney CEO Compares Himself To Marvel Superhero

There were buyers of 3,600 of the September 115 calls at $7.70 per contract on average, Khouw mentioned. Check out other stocks gaining favor in the premarket.

The buyers of these calls are betting that the stock gains at least 14% by September, he said.

Disney shares were trading 1.18% higher during Wednesday's pre-market session at $108.95.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.